Markets hear BOJ roar but China has little to fear

The Bank of Japan shook world markets on Tuesday in a monetary move that at the least reminded everyone the entity still exists.

It’s been a long, long while since Governor Haruhiko Kuroda logged into global markets. Seeing that the green light next to his avatar had switched on was enough to send the yen higher, currency traders scurrying and People’s Bank of China (PBOC) officials in Beijing wondering what gives.

The last thing Chinese leader Xi Jinping needs as he works to revive Asia’s biggest economy is Tokyo unleashing global market chaos at a moment when the US is sliding toward recession.